Leasing (Russian market)

• Automotive market of Russia
• Construction equipment (Russian market)
• Aviation industry of Russia
• Medical equipment leasing in Russia

Chronicle

2023: Market Growth by 40% to 611 Thousand Leases

At the end of 2023, the number of new leasing items transferred to customers reached 611 thousand. This is about 40% more compared to 2022 (431 thousand) and 6% higher than in the previously record 2021 (565 thousand). The corresponding indicators in early February 2024 were announced by the National Rating Agency (NRA).

According to the Kommersant newspaper, referring to the NRA data, the largest growth in 2023 was recorded in the computer equipment sector - plus 120% compared to the previous year. In addition, high indicators were noted in the segments of passenger and commercial vehicles - respectively, plus 60% and 45% year-on-year. This situation, according to analysts, is associated with measures of state support (compensation for a discount to the lessor for an advance payment) of wheeled vehicles, high activity in the construction industry, as well as with the cycle of replacement of freight and corporate vehicles.

Pexels

In monetary terms, the Russian leasing market in 2023 reached a volume of about 8.4 trillion rubles, which is 24% more than the result for 2022. The size of the new business is estimated at 3.41 trillion rubles, which corresponds to an increase of 70% on an annualized basis. In particular, the volume of the new business of the Gazprombank Leasing group in 2023 almost doubled, and Interleasing ended the year with an increase of 70%. The Alfa Leasing group of companies has a volume of investments in new business in 2023 turned out to be "15% higher than the basic forecasts."

Among the negative factors affecting the development of the industry, experts call the lack of leasing items due to sanctions, violation of logistics and payment chains, a decrease in demand for leasing due to the rise in price of leasing items, as well as a decrease in the credit quality of lessees. In 2024, the authors of the study believe, the number of leasing items transferred to customers will rise by 20% on an annualized basis - up to 700 thousand.^[1]

2022

Market leaders named

On March 20, 2023, the Expert RA rating agency published a study of the Russian leasing market. Its largest player (in terms of the volume of new business in 2021) is Gazprombank Leasing. The Group took first place in the segments of leasing cars and trucks, construction and road and special equipment, loaders and warehouse equipment, oil and gas equipment and real estate.

According to analysts, the Russian leasing market in 2022 decreased by 13% compared to the results of 2021: the volume of new business amounted to 1.98 trillion rubles. The total leasing portfolio of the market showed an increase of 5% to 6.75 trillion rubles. The decrease in the growth rate of the portfolio relative to 2021 is due to the fall in the volume of new business, the early termination of a number of major transactions, as well as the reformatting of aircraft and water vessel leasing agreements into other types of financing, which led to a reduction in the aircraft transportation segment in the portfolio structure from 14 to 7%, and water vessels - from 10 to 7%. Freight transport and construction equipment, which showed the main growth of new business in 2022, increased their shares in the total leasing portfolio from 13 to 18% and from 7 to 9%, respectively.

The decline in corporate segments in 2022 was 31%, while retail segments decreased by only 8%. The volume of new business of corporate segments has dropped to the lowest level over the past six years, which is due to the significant impact of sanctions on the air and water transportation industry. Thus, the volume of new business in avialization decreased by 61%, and in the segment of sea and river vessels - by 46%. Leasing of railway transport, which remains the main means of exporting natural resources, showed a decrease in the volume of new business by only 1%.^[2]

Market fall by 25% to 272 thousand contracts

In 2022, 272 thousand leasing agreements were concluded in Russia, which is 25% less than a year earlier. At the same time, the volume of goods transferred under these contracts decreased even more - by 30%, to 390 thousand units. This is evidenced by the data of the National Rating Agency (NRA), released at the end of January 2023.

According to Kommersant, citing NRA statistics, in 2022 the volume of new leasing business in money fell by 12-14%. At the same time, the total leasing portfolio at the end of 2022 remained at the level of the previous year and amounted to about 6.6 trillion rubles, since the growth of the new business was compensated for by early redemption of leasing items by lessees, termination of international contracts with large companies and reformatting leasing agreements into other types of financing. According to NRA estimates, by the end of 2022, the share of the leasing industry in Russia's GDP decreased to 1.3% of GDP (from 1.7% in 2021).

The maximum decrease in leasing items transferred to customers in 2022 occurred in the segments of railway transport, video and computer equipment and catering equipment. In these segments, new business volumes fell by more than 60%. There was also a significant decrease in new business volumes in such corporate sectors as industrial equipment (-45%), climate and boiler equipment (-35%) and water transport (-55%).

The most massive segment - commercial and passenger cars decreased by about 35%. The most resistant to the crisis were segments of special equipment (the fall was about 8%), space and aircraft (the fall was about 10%). Contrary to the crisis, the real estate segment grew by 7%, the study said.^[3]

Notes